An idea I had. Player housing will probably be implemented at some point in the game down the road. What I propose is the following:

An entire new continent has been discovered. It is huge. Larger than all of Tamriel by far. The various factions, of course, wish to colonize it and have planted their flags in different locations.

A low level player could travel by boat to this new land and be given a simple hut in a village.

For end game players, though, the stakes could be much higher.

Through a long quest series and a Diplomacy game reminiscent of Vanguard, one could attain an actual Title of Nobility.

The player would then be assigned a plot of land that had to be cleared and a fort/castle constructed. Further ranks could be earned to enable the domicile to become even more grand. Perhaps NPC guards and a customized Coat of Arms could also be in the equation.

That's the bare bones, and I realize that this could not happen anytime in the near future, but I think it would add meaningful goals. The trick, of course, as we are seeing in other games is that in a mega world housing issues are tricky. That is why I would have the domains assigned instead of chosen, with a possible cap on how many structures could be built.

To retain your land, you would have to continue to further your realm's goals. Quit playing or refuse to adhere to your noble obligations would enable others to conquer your domain.

Not a perfect idea, but I feel it could be refined to add a fresh element not seen in other MMORPGs.